>

>

Capri by Fraser sold to Frasers Centrepoint for $203.4 mil

By hockmeng.tay@bizedge.com

/ City & Country |

March 22, 2015 12:00 AM SGT

The Capri by Fraser, a 313-room hotel-cum-serviced apartment development located within the Changi City integrated development, was sold to a unit of Frasers Centrepoint Ltd (FCL) for $203.4 million. The price translates into about $650,000 per room. The land on which The Capri by Fraser is situated has a lease term of 54 years left. The 12-storey property was sold by Ascendas Frasers Pte Ltd, a 50:50 joint venture between Ascendas Land and Frasers Centrepoint.

The joint-venture partners had purchased the 4.7ha site for $150.8 million, or $119 psf per plot ratio (psf ppr) for the development of a mixed-use project in 2008. The Capri by Fraser is part of the integrated project, which includes a shopping mall and office block. The purchase price translates into a yield of 6%, says Donald Han, managing director of Chesterton Singapore.

This article appeared in the City & Country of Issue 669 (Mar 23) of The Edge Singapore.

Tags:

Capri Frasers Frasers Centrepoint Ascendas Land Changi City serviced apartment

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00